Egg card anniversary loophole

sdooley

Does the 'catch' to the anniversary offer (mentioned in Martin's article http://www.moneysavingexpert.com/cards/egg-card-loophole) that the BT fee is treated as a purchase with interest on it still apply?

If so, can you get round it be offering to pay the fee up-front on your debit card, so that it isn't added to the credit card?

jonesMUFCforever

In all the balance transfers I have done with Egg there has been no interest charged on the BT fee.
I'm one month into the anniversary offer - no interest at all charged last month.

benf90

sdooley wrote: »

Does the 'catch' to the anniversary offer (mentioned in Martin's article http://www.moneysavingexpert.com/cards/egg-card-loophole) that the BT fee is treated as a purchase with interest on it still apply?

If so, can you get round it be offering to pay the fee up-front on your debit card, so that it isn't added to the credit card?

No it doesn't, so the guide should probably be updated to reflect this. If I remember correctly it was around November 2006 that this changed.

Prior to them making the change interest on any BT fees was charged at the same rate as purchases.

The BT fee is added to the balance of the card (which is why they only allow you to transfer up to 95% of the available credit on that day). But, that doesn't really matter now anyway as it'll all still be on 0% interest.

Remember, balance transfer offers with Egg (including the anniversary offer) expire on the 1st of the month, regardless of when you do the transfer. So if you're planning to clear the balance before the offer expires keep that in mind.